Marketing on 6th Claim the US Economy is Improving and Consumer Confidence Booming

    NEW YORK, NY, July 24, 2013 /24-7PressRelease/ -- In June, the Bureau of Economic Analysis (BEA) announced that US economic growth in Quarter 1 was weaker than previously forecast. Gross Domestic Product grew at just 1.8% between January and March this year, as opposed to the BEA's earlier estimate of 2.4%. Research firm IHS Global Insight predicted that the US economy will grow by 1.6% this year, lower than an earlier prediction of 1.8%. Consumer spending was also downgraded to 2.6% from earlier predictions of 3.4%.

About Marketing on 6th: http://www.marketingon6th.com

Despite the fairly negative reports, Marketing on 6th reports a huge surge in sales to date in 2013. The firm is an outsourced sales and marketing company dealing predominantly in the business to consumer sector. Marketing on 6th saw a 5.3% boost in profits over the last two months and suggests that consumers are spending despite the media reports. "Sales and customer acquisition rates have grown month on month throughout 2013," reported Marketing on 6th CEO Brittany Lennon. "Despite the disappointing economic growth figures, our experiences in the field suggest that US consumer confidence is on the upturn. Economists tell us that consumer confidence leads to increased consumer spending, and increased spending helps the US economy to grow. I predict that the third and fourth quarters of this year will show evidence of this, which will set us up for a stronger 2014."

Brittany Lennon, CEO of Marketing on 6th cites reports which support claims of increasing consumer confidence. At the end of May, USA Today published a survey which suggested that growth will be late in 2013. The report predicts economic growth of 2.7% in Quarter 4 and 3% by the beginning of 2014. Job growth is expected to hit 200,000 in Quarter 4, up from a predicted 165,000 in Quarter 2 and 172,000 in Quarter 3. Significantly, The Conference Board reported that the Consumer Confidence Index (CCI), which tracks the health of the US economy from the perspective of the consumer, rose in June to 81.4 from 74.3 in May. This incline brought the CCI to its highest level since January 2008. The Conference Board reports that the pace of growth is unlikely to slow down in the short-term. "This evidence suggests that the US economy is likely to see a boost by the end of the year," says CEO of Marketing on 6th Brittany Lennon. "Although we may not see these results immediately, businesses and consumers alike should take encouragement that the economic outlook is not as bleak as the media suggests."

Sources:

http://www.huffingtonpost.com/2013/06/26/us-gdp-q1-first-quarter-2013_n_3502310.html
http://www.usatoday.com/story/money/business/2013/05/12/usa-today-second-quarter-economic-survey/2150719/
http://www.tradingeconomics.com/united-states/consumer-confidence

Marketing on 6th is based in New York City and provides outsourced sales and marketing services for clients in the telecoms, energy, non-profit and finance industries.

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